Crisis in Nicaragua: Textile Companies Closing
Wednesday, July 4, 2018
The complicated situation happening in the country since mid-April has forced nearly 70% of SMEs in the textile and clothing industry to suspend their operations.
According to information from the Chamber of Industries of Nicaragua (Cadin), 30% of small and medium size textile and clothing companies that are producing are doing so at 25% of their capacity. The situation in the sector has led to the temporary suspension of eight out of ten workers. 

See "Crisis in Nicaragua: Economic projections get worse"

Regarding the situation they are currently facing, Omar Baldizón, owner of the Baldizón shoe shop in Masaya, explained to that he closed his operations " ..." in June and we are three days into July. The staff is on vacation, and we are frantically searching, to get (money) and pay them. There are some (workshops) that are working three or four days, and they not even able to work a full work day.'"

See also "The cost of the crisis for Central America"

For his part Fernando Rocha, owner of a footwear workshop in Granada, said they are " ... in a situation that has forced us to stop (our operations). The thing is, there is no possibility of selling our products to anyone, or producing anything. We are totally paralyzed."

According to Cadin's figures, 80% of SMEs in the wood-furniture sector are paralyzed, and the remaining 20% are working at 5% of their productive capacity.  

Request more information:
Last Name*
Telephone (choose your Country):*

Size of the Company:*
Yes, I want to receive a call from a salesperson*
this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423
More on this topic
Crisis Overwhelms Tourism
September 2018
The union has reported that five months after the outbreak of the social and political crisis in Nicaragua, the country has lost about 68,000 of the 120,000 jobs generated by the sector.
The National Chamber of Tourism (Canatur) presented a report highlighting the impact of the country's social and political crisis on the tourism sector.  
Central America and The Cost of the Crisis
June 2018
With the paralyzation of the cargo transport and the retention of about 6 thousand units in Nicaragua, the region is starting to feel the effects of a crisis with no potential solution in the short term.
The crisis in Nicaragua has created high costs in all countries in the region, as according to the latest report it is estimated that at least some 6,000 heavy cargo vehicles are trapped due to the violence and blockades that have intensified in the last weeks.
Hotels Closing Down Due to Crisis
May 2018
The guild of small hotels in Nicaragua says that due to the complicated situation that the country is going through, the sector has stopped contributing around $100 thousand a day, and has been forced to reduce its personnel by half.
This week an establishment affiliated with the Association of Small Hotels of Nicaragua (Hopen), announced the temporary closure of its facilities. Hotels categorized as small and medium are those that have between 5 and 50 rooms.
Political Uncertainty and Economic Losses
December 2017
Nine days after the presidential elections in Honduras an official winner has still not been announced, and the business sector estimates that the losses caused by looting, violence and paralyzed activities amount to $50 million a day.
Blockades in the main roads of the country, demonstrations, looting of businesses and widespread violence is what can be seen in some areas of Honduras, eight days after the disputed presidential elections. 
textile footwear
Key entities
Cámara de Industrias de Nicaragua - CADIN
economic crisis political crisis social crisiseconomic losses job loss work positions factory closing factory closure Textile industry IndustryTextile Industry
economic crisis
Textile Industry
Textile industry
political crisis
social crisis
Daily Update Government PurchasesDownload brochure (only in spanish)Trade Inteligence Subscriber Access NewsletterContact Us MarketDataMexico Español
2008-2021 ©
Trade InteligenceWho we areContact Us